IFDA has specially designed this course for the accounting professionals who are willing to gain knowledge on the practices best suited in the industry. Tax and consultancy professional course is a degree course in itself or it can be offered as a concentration track of undergraduates and graduates degrees in commerce, law or business administration. After completing this course a learner can become professional and can work in accountancy and law firms, investment, insurance agencies, software companies, etc. All the modules of the Accounting field i.e. GST, TDS, Payroll, MIS, Advance Excel, Income Tax, Tax Planning and Auditing, Finalization of Books will be covered in this course.
TCP Course Content
GST (GOODS & SERVICES TAX)
- Introduction to GST, Old Taxation System
- Structure of GST
- Process of Registration under GST, Existing Registration
- New Registration as a Regular Dealer
- Cancellation and renovation of registration
- Supply of Goods and Services
- Mixed Supply and Composition Supply
- Registered Business, Availed Input Tax Credit
- Invoicing, Tax Invoice, Bill of supply
- Credit Note / Debit Note & Supplementary Invoice
- Transportation of goods without issue of Invoice
- Input Tax Credit mechanism
- Entitlement of Input Tax Credit
- Input Tax Credit set off, Input Tax Credit Claim
- Regular Dealer, Composition Tax Payer
- Payment of Tax
- Transferring Input Tax Credit
- Intrastate & Interstate supply of goods/services
- Purchase Return / Sales Return
- Supplies Inclusive of Tax
- Defining Tax Rates at Master & Transaction Levels
- GST Reports
- Recording Advanced Entries
- Purchase from Composition / UnregisteredDealer
- Exports / Imports / Exempted Goods
- SEZ Sales, Advance Receipts & Payments
- GST Adjustment & Return Filing
- Time line for payment of GST tax, Modes of payment
- Challan Reconciliation
- Transferring input tax credit to GST
- Cancellation of inward & outward supplies
- Recording partial payment to suppliers
- BC supply of services (Business to Consumer)
- Exempt supply of services under GST
- Reverse charge on services under GST
- Advance Receipt & issuing invoice on different month
- Reversal of GST on account of cancellation of advance Receipt
- Basic Concepts of TDS
- TDS in Tally. ERP9
- Recording Transactions
- Accounting for TDS on Advance Payments
- TDS on Expenses at Lower Rate
- TDS on Expenses at Zero Rate
- Deducting TDS on Payments
- Reversal of Expenses with
- TDS Reports
- Challan Reconciliation
- TDS Outstanding
- E- Return etc.
- Payroll Management
- Definition of an Employee
- Employee Time Tracking
- Employee Compensation
- Employee Benefits
- Creation of employee & employee group
- Attendance / Production types
- Creating Payroll units
- Payroll Deductions
- Payroll Taxes
- Tax Remittances
- Unemployment Taxes
- Payments to Employees
- Accounting for Payroll
- Payroll Reports
- Payroll Record keeping
- Payroll Procedures
- Payroll Controls
- Trial Balance/Balance Sheet/P&L Account
- Cash Flow Statement
- Day Book
- Bills Receivable and Bills Payable
- Inventory Reports & Stock Transfer
- Movement & Ageing Analysis
- Pivot Tables, Charts & Spark lines
- Slicer, Hyperlink
- Smart Arts, Macros
- Advanced Conditional Formatting Using Functions.
- Searching Technique with Goto Special.
- Function Nesting to get result.
- Lookup to Left with Index & Match.
- Financial Calculations.
- Text filtering from String, First Middle Last Name.
- Find & Remove Duplicate Entries.
- Tax Calculator in Excel.
- Mathematical Operations: Sum, Product, Power, Sqrt, Mod, Aggregate
- Conditional Sums: Sumif, Sumifs Advanced
- Mathematical Operations: Sumproduct, Su7nsq, Series sum.
- Other Operations: Round, Roundup, Round down.
- Rand, Randbetween, Fact, Roman.
- Data Lookup Functions: Vlookup, Hlookup
- Lookup, Choose, Match, get pivot data. Logical Functions: And, Or, Not, If, Iferror, Ifna, True, False.
- Cell/Range: Address, Index, Index, Offset.
- Other Hyperlink, Transpose, Formula text
- Day, Hour, Minute, Month, Networkdays, Now, Second, Today, Weekday, Year.
- Networkday.intl, Weeknum, Days360, Edate, EOMonth.
- Pmt, Ppmt, Ipmt, Pv, Fv, Rate.
- Iserror, Iserr, Isna.Error.Type, Isref, Iseven, Isodd, Isnumber, Isblank. Row, Column, Rows, Columns, Areas.
- Direct Tax & Indirect Tax
- Sources of Income Tax Law in India
- Basic principles for charging Income Tax
- Assessment Year | Previous Year | Assesse
- Heads of Income
- Income from Salary.
- Income from House Property.
- Income from Profits and Gains of Profession or Business.
- Income from Capital Gains.
- Income from Other Sources.
- Gross Total Income (GTI)
- Determination of Residential Status
- Hindu Undivided Family (HUF) Company
- Basic Elements of Salary
- Definition of Salary
- Computation of Salary
- Gratuity | Leave Salary Encashment
- Perquisite | Leave Travel Concession
- Provident Fund | Standard Deduction
- Meaning of Business & Profession
- Filing of Income tax returns
TAX PLANNING AND AUDITING
- Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency. Through tax planning, all elements of the financial plan work together in the most tax-efficient manner possible. Auditing is the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure compliance to requirements. An audit can apply to an entire organization or might be specific to a function, process, or production step.
FINALISATION OF BOOKS
- Finalisation of books of account means to check and reconcile the books of accounts. Importance of accurate book closure and account finalization to ensure compliance, business visibility, banking needs, tax compliance needs.
Why to choose IFDA for Tax and Consultancy Professional (TCP)?
IFDA has brought Tax and Consultancy Professional (TCP) training in Delhi by expert persons who will train you in such a way that will help you to clear the exam easily. Guided lessons to learn step by step from the beginning are provided to the students. Flexible batch timings are available in weekdays and weekend classes are also available. Extra batches to clear the doubts of the students are also available. Training is provided by the professional tutor who teaches you in a very professional and an easy way. Government certification is given to the students after the completion of the course with 100% job assistance.
Benifits of Tax and Consultancy Professional (TCP):
Tax and Consultancy Professional (TCP) is a government certificate course, you can utilize it for your administration occupation reason. After completing the course from IFDA, the student will be able to the use the computer for basic purposes of preparing his/her personnel/business letters, viewing information on internet (the web), receiving and sending mails, preparing business presentations, preparing small databases etc. This helps the small business communities, housewives, etc. to maintain their small accounts using the computers and enjoy in the world of Information Technology. This course is completely job-oriented and is needed in many government examinations.
- Accounts Executive
- Accounts Manager
- Finance Manager
- Financial Control
- Financial Advisor
- Banking and many more